2026-05-13T13:53:55-05:00 2025-06-30 990 2024-07-01 263557623 Wellmont Cardiology Services WELL 4233023467 311 Princeton Road Suite 1 Johnson City TN 376012080 Joshua McFall CFO,Corp,Retail & NonAcute Svc 4234311025 2026-05-13 1 2024 2025-03-06 01:10:19Z Joshua McFall 303 Med Tech Prkwy Johnson City TN 37604 81762688 0 X balladhealth.org X 2010 TN Honor those we serve by delivering the best possible care. 12 0 417 0 0 0 15000 289 71767396 81724919 16672 23138 720736 13169 72519804 81761515 0 0 0 0 59603417 62335553 0 0 0 14457411 17491055 74060828 79826608 -1541024 1934907 7200870 8465061 12652016 11543989 -5451146 -3078928 X Honor those we serve by delivering the best possible care.Ballad Health is dedicated to improving the health of the 29-county Appalachian Highlands region. 0 0 76387884 80988598 Cardiovascular Associates was established in 1978 to provide comprehensive cardiovascular services to the Northeast Tennessee/Southwest Virginia region. In May 2010, Wellmont Cardiology Services (WCS) acquired substantially all of the assets of Cardiovascular Associates to become the region's largest provider of comprehensive cardiovascular services.This physician group provides top-quality cardiovascular services to Northeast Tennessee, Southwest Virginia, Southeast Kentucky and Northwest North Carolina, as well as areas of West Virginia.WCS strives to improve the cardiovascular health of the region and deliver high-quality, cost-effective heart and vascular care with compassion.WCS consists of 48 certified cardiologists and cardiovascular and thoracic surgeons who work in twelve community offices and the seven member hospitals of Wellmont Health System. WCS diagnoses, treats and manages all aspects of adult cardiovascular disease. Services provided include general cardiology, preventive cardiology, electrophysiology, interventional cardiology, vascular medicine, structural heart disease, heart failure management, cardiovascular and thoracic surgery and advanced cardiovascular imaging. WCS also serves as a leader in clinical research and also participates in training of medical students, residents and fellows. For fiscal year 2025, WCS had 161,141 outpatient encounters and performed 3,285 surgical procedures.WCS is dedicated to improving the community's access to quality, affordable healthcare, educating the region's caregivers, improving the health status of its communities, and contributing to the quality of life in the areas it serves.CHARITY AND OTHER UNREIMBURSED COSTS:CHARITY CARE: While reimbursement for healthcare services rendered is critical to the operation and sustainability of the organization, Wellmont Cardiology Services recognizes its obligation to provide care to individuals who cannot afford essential medical services, including emergency care. WCS accepts all patients regardless of their ability to pay. A patient is classified as a charity patient when they meet the established policies of Ballad Health and guidelines outlined by the federal government. However, financial assistance decisions are not solely based on income. Unique financial circumstances are weighed with verified patient assets which can determine financial assistance eligibility. It is not until after verification of income and assets that a decision regarding the amount of financial assistance can be made. In fiscal year 2025, WCS incurred a loss of $866,554 attributable to the provision of charity care.TENNCARE/MEDICAID/MEDICARE/CHAMPUS: WCS provides care to persons covered by governmental programs, such as TennCare (Tennessee residents), Medicaid, Medicare and Champus. WCS incurred a loss of $17,367,059 providing care to this population of patients during the year.It is WCS's obligation to support causes that improve the quality of life in the region. WCS sponsored or participated in educational, community-based programs on healthy lifestyles, risk factor identification, diagnostic and treatment options, including continuing education programs for physicians, nurses and allied health professionals. Such initiatives included:-Annual Cardiovascular Summit-Presentations to medical societies 76387884 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 X 0 0 1 417 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X Shane Hilton 4233023467 303 Med Tech Parkway Suite 300 Johnson City TN 37604 X Benjamin Culp MD Vice-President 40.00 0.00 X X 708825 0 51871 Clay Runnels MD BH EVP & Chief Phy Executive 1.00 64.00 X 0 1375526 131128 Eric Deaton BH EVP/COO 1.00 64.00 X X 0 1747698 137400 Keith Kramer MD Physician 40.00 0.00 X 709001 0 51241 Mark Chang MD SVP,CV Strategy & Trans. 1.00 54.00 X 0 687305 79181 Marvin Eichorn BH EVP/CAO 1.00 64.00 X X 0 1445711 53543 Thomas Helton IV MD Physician/President 40.00 0.00 X X 693392 0 52502 Steven Hopkins MD Physician 40.00 0.00 X 722632 0 50265 Gaurav Rana MD Physician/Treasurer 40.00 0.00 X X 707278 0 51539 Nafees Mohammed MD Physician 40.00 0.00 X 717634 0 9576 Mark Aziz MD Physician/Secretary 40.00 0.00 X X 715016 0 28248 Greg Miller MD Physician 40.00 0.00 X 711739 0 48524 Mark Patterson MD SVP/President-BHMA 1.00 54.00 X 0 1108908 103049 Matthew Lazari CFO-BHMA 0.00 45.00 X 0 231538 38184 Ahmed Khan MD Physician 40.00 0.00 X 945906 0 46529 Jack Whitaker MD Physician 40.00 0.00 X 793741 0 46231 Fawwaz Hamati MD Physician 40.00 0.00 X 959598 0 20527 Luke Erdoes MD Physician 40.00 0.00 X 731542 0 30124 Shaun Colburn MD Physician 40.00 0.00 X 726135 0 23923 Chase Wilson CFO JCMC Former Officer 0.00 45.00 X 0 270163 44184 Leanne Cox Corp Dir Treasury Former Officer 0.00 40.00 X 0 116560 34658 Stanley Gall Jr MD Former Officer 40.00 0.00 X 712155 0 49448 10554594 6983409 1181875 109 1 1 0 0 289 289 Hospital Support 900099 45169886 45169886 Net Patient Revenue 621990 34409979 34409979 Clinical Services 621990 1392717 1392717 Research Revenue 541700 735148 735148 Medical Education Training 900099 17189 17189 81724919 24311 24311 1173 -1173 -1173 -1173 Medical Records 900099 7230 7230 Vending Commission 900099 2769 2769 Prior Year Refunds/Recoveries 900099 1920 1920 1250 1250 13169 81761515 80988598 0 772628 6112092 5815703 296389 48420330 47542113 878217 1405939 1288785 117154 3801387 3546271 255116 2595805 2518597 77208 13487 13487 2800935 1280679 1520256 93950 7376 86574 224188 122386 101802 2342433 2339616 2817 428630 427703 927 259814 252838 6976 44971 44971 Support Services 9234961 9234961 Maintenance 1212064 1212064 Medical Supplies 439304 439304 Dues & Subscriptions 146873 57859 89014 249445 243171 6274 79826608 76387884 3438724 0 2905 2805 3254379 2839324 283101 378666 1725150 1222499 7779462 5516186 1307796 2263276 423677 423677 203862 1334814 7200870 8465061 10611443 10491003 2040573 1052986 12652016 11543989 X -5451146 -3078928 -5451146 -3078928 7200870 8465061 X 1934907 437311 X 0 1 X 1 1 1 X 5425 50 2210 15000 289 22974 54585889 60941219 72715590 70997599 81724919 340965216 17161 462591 86062 720736 13169 1299719 54608475 61403860 72803862 71733335 81738377 342287909 0 41640929 41640929 41640929 41640929 300646980 6357 8785 9493 19108 24311 68054 6357 8785 9493 19108 24311 68054 893809 1018397 1617648 767362 735148 5032364 55508641 62431042 74431003 72519805 82497836 347388327 0.86540 0.98370 0.00020 0.00020 X 561103 79899 481204 2947151 2337004 610147 3484775 3099283 385492 786433 786433 2263276 A/R-Miscellaneous 180480 Due from Affiliates 1154334 1334814 Operating Lease Obligation ST 530171 Operating Lease Obligation LT 522246 Due to 3rd Parties - Stimulus 569 1052986 X Part X, Line 2: Wellmont Cardiology Services is included in the audited consolidated financial statements of Ballad Health. The footnote explanation relative to income taxes reads: "Ballad is classified as an organization exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. As such, no provision for federal income taxes is included in the accompanying consolidated financial statements. Taxable subsidiaries are discussed in Note K. No significant uncertain tax positions exist at June 30, 2025 and 2024. Tax returns for 2022 through 2024 are subject to examination by the Internal Revenue Service." 0 1 0 0 0 0 0 0 0 Eric Deaton BH EVP/COO 0 894611 0 604644 0 248443 0 110198 0 27202 0 1885098 0 0 Clay Runnels MD BH EVP & Chief Phy Executive 0 797671 0 541155 0 36700 0 100731 0 30397 0 1506654 0 0 Marvin Eichorn BH EVP/CAO 0 805288 0 598349 0 42074 0 20040 0 33503 0 1499254 0 0 Mark Patterson MD SVP/President-BHMA 0 493409 0 311933 0 303566 0 70689 0 32360 0 1211957 0 243431 Ahmed Khan MD Physician 933129 0 0 0 12777 0 20324 0 26205 0 992435 0 0 0 Fawwaz Hamati MD Physician 949812 0 0 0 9786 0 19800 0 727 0 980125 0 0 0 Jack Whitaker MD Physician 669276 0 114924 0 9541 0 21410 0 24821 0 839972 0 0 0 Steven Hopkins MD Physician 605409 0 116424 0 799 0 20040 0 30225 0 772897 0 0 0 Mark Chang MD SVP,CV Strategy & Trans. 0 550517 0 132149 0 4639 0 45766 0 33415 0 766486 0 0 Luke Erdoes MD Physician 612807 0 116424 0 2311 0 19800 0 10324 0 761666 0 0 0 Stanley Gall Jr MD Former Officer 594518 0 116424 0 1213 0 20198 0 29250 0 761603 0 0 0 Benjamin Culp MD Vice-President 592196 0 116424 0 205 0 20300 0 31571 0 760696 0 0 0 Greg Miller MD Physician 594249 0 116277 0 1213 0 19006 0 29518 0 760263 0 0 0 Keith Kramer MD Physician 592566 0 115237 0 1198 0 20040 0 31201 0 760242 0 0 0 Gaurav Rana MD Physician/Treasurer 592149 0 114924 0 205 0 19920 0 31619 0 758817 0 0 0 Shaun Colburn MD Physician 595918 0 120030 0 10187 0 0 0 23923 0 750058 0 0 0 Thomas Helton IV MD Physician/President 595797 0 96050 0 1545 0 23000 0 29502 0 745894 0 0 0 Mark Aziz MD Physician/Secretary 599701 0 115020 0 295 0 4182 0 24066 0 743264 0 0 0 Nafees Mohammed MD Physician 601005 0 116424 0 205 0 0 0 9576 0 727210 0 0 0 Chase Wilson CFO JCMC Former Officer 0 215985 0 42665 0 11513 0 13857 0 30327 0 314347 0 0 Matthew Lazari CFO-BHMA 0 180034 0 44575 0 6929 0 11581 0 26603 0 269722 0 0 Leanne Cox Corp Dir Treasury Former Officer 0 114990 0 0 0 1570 0 7347 0 27311 0 151218 0 0 Part I, Line 4b The following executives listed in Schedule J, Part II participated in a 457(f) retirement plan provided by Ballad Health (BH). The 457(f) plan is a nonqualified tax-deferred compensation plan available to a select group of key executives for the intent of supporting retention and to offer a competitive total retirement program. Account balances have a "substantial risk of forfeiture". In addition to creditor risk, substantial risk of forfeiture is created through default risk if the participant's employment with BH is terminated prior to age 65. However, the 457(f) plan contains a non-compete provision that provides the account balance to be paid in a lump sum after the executive satisfies the two-year non-compete period. This provision applies to employer contributions if the executive has provided eligible service for six or more years. The executive will receive the entire account balance if he/she becomes disabled, dies or if the executive terminates for "good reason or is involuntarily terminated without "good cause" within a 24-month period after a change-of-control occurs. Distributions from this plan are subject to federal, state, and local taxes on the entire account balance upon distribution. Eric Deaton $90,158 Clay Runnels, M.D. $80,691 Mark Patterson. M.D. $50,540 Mark Chang, M.D. $25,726 Form 990, Part V, line 1a Ballad Health (BH), WCS's parent organization, filed Form 1096 on a consolidated basis for all subsidiaries that were required to file Forms 1099-MISC/NEC. WCS reimburses BH for all expenses related to vendor payments and the expenses are recorded on WCS's books. Form 990, Part VI, Section A, line 6 The business and affairs of Wellmont Cardiology Services (WCS) are governed exclusively by the Board of Directors. WCS's Board of Directors is designated by Wellmont Health System, the sole member of WCS. In addition to such rights of approval and consent as may be reserved to the sole member of WCS pursuant to applicable law, transactions of the following matters by WCS require the prior approval of Wellmont Health System: (A) Implementation of Corporation's annual budget, (B) Incurring any loan or other indebtedness for borrowed money, (C) Acquisition of any equipment or personal property for a purchase price in excess of $50,000 or the acquisition of any real estate, regardless of purchase price, (D) The undertaking of certain contractual commitments, (E) Entering into any plan of merger or consolidation, (F) Acquisition of substantially all of the assets of any other legal entity, and (G) Institution of any litigation by or on behalf of WCS. Form 990, Part VI, Section A, line 7a Wellmont Health System (WHS) is WCS's sole member. The board of directors of Ballad Health, WHS's parent organization, serves as WHS's board of directors and is responsible for appointing the directors of WCS's board. Form 990, Part VI, Section A, line 7b Certain decisions of the board are, pursuant to charter, subject to approval of the members. No ordinary, day-to-day decisions are subject to member approval. Form 990, Part VI, Section B, line 11b The Ballad Health Tax Department prepares and reviews the Form 990. During preparation other functional areas within the organization provide information and support to complete an accurate return. The return is reviewed by the organization's CFO and is provided in electronic form to all members of the Board of Directors prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c Ballad Health has a conflict of interest policy for all members of the Board of Directors, the Executive Chair/President, Executive Vice Presidents, Senior Vice Presidents, and Vice Presidents, and applies to all Ballad Health organizations. All persons covered by this policy are required to complete a conflict of interest disclosure form on an annual basis. Should a conflict arise, it is the responsibility of the conflicted individual to update his or her disclosure immediately. All meetings of the board or board committees have a standing agenda item first on the agenda titled "Conflicts of Interest". If a member of the board or board committee has a conflict of interest involving any issue on the board agenda, he or she must declare the conflict of interest during the period allotted for disclosure. If any issue arises during a meeting in which the board member has a conflict of interest, he or she must immediately declare the conflict. While each member of the board or board committee is responsible for disclosing conflicts of interest, it is also the responsibility of any board member aware of a conflict which has not been disclosed to ensure the board is made aware. The presiding officer of a board or board committee meeting may ask a conflicted member to excuse themselves from the meeting during the discussion related to the issue with which the conflict of interest applies. Under no circumstances shall a member vote on a matter that gives rise to a potential conflict. Form 990, Part VI, Section B, line 15 Line 15a - Compensation Process for Top Official During FY25, the President of WCS received no compensation for his board services to WCS. His compensation is derived from medical services provided to WCS. His compensation, consistent with all WCS physicians, is evaluated annually by the board utilizing an independent third-party physician compensation database. Line 15b - Compensation Process for Officers On an annual basis, Ballad Health's Human Resources (H/R) Department evaluates compensation for all executives at a position level of Assistant Vice President and above. H/R's evaluation is based on market data obtained from independent third-party consultants for positions with similar responsibilities at similarly situated organizations. Based on this comparable data, Ballad Health's CEO evaluates the data and, if appropriate, makes necessary adjustments. Any adjustments to Senior Vice Presidents or above are reviewed by the Board of Directors Executive Compensation Committee. In addition, Ballad Health offers an incentive plan to executives based on targeted achievement metrics categorized by; Quality, Service and Safety; Access to Care; Financial Stewardship, and any other metrics approved from time to time by the Board of Directors. Form 990, Part VI, Section C, line 19 Governing documents and conflict of interest policy are made available upon request to the appropriate parties requesting them. Financial statements are made available upon request to appropriate parties requesting them, and they are made available to those parties who own indebtedness of the company on a quarterly basis. Form 990, Part VII, Section A, line 2 Line 2 does not include W-2s processed by our parent organization, Ballad Health, on behalf of WCS. Team member's reportable compensation, if included in Part VII, Section A, is reported as compensation from related organizations. Form 990, Part XI, line 9: Intercompany Transfers 437,311. Abingdon Physician Partners 16000 Johnston Memorial Drive Abingdon VA 24211 205485346 Medical Services VA 501c3 12a JMH 0 Ballad Health 303 Med Tech Parkway Suite 300 Johnson City TN 37604 611771290 Supporting Organization TN 501c3 12b N/A 0 Ballad Health Auxiliary 400 N State of Franklin Road Johnson City TN 37604 581418345 Supporting Organization TN 501c3 12a BALLAD HEALTH 0 Ballad Health Center for Early Learning 400 N State of Franklin Road Johnson City TN 37604 923891827 Child Day Care Services TN 501c3 Line_10_Organization BALLAD HEALTH 0 Ballad Health Foundation 1019 West Oakland Ave Suite 2 Johnson City TN 37604 581594191 Fundraiser TN 501c3 Line_7_Organization_ BALLAD HEALTH 0 Dickenson Community Hospital 312 Hospital Drive Clintwood VA 24228 770599553 Hospital VA 501c3 Line_3_Hospital_Coop WHS 0 East TN Healthcare Holdings Inc 203 Gray Commons Circle Suite 110 Gray TN 37615 815475903 Opioid Treatment TN 501c3 Line_10_Organization N/A 0 Johnston Memorial Hospital 16000 Johnston Memorial Drive Abingdon VA 24211 540544705 Hospital VA 501c3 Line_3_Hospital_Coop MSHA 0 Mountain States Health Alliance 303 Med Tech Parkway Suite 300 Johnson City TN 37604 620476282 Hospital System TN 501c3 Line_3_Hospital_Coop BALLAD HEALTH 0 Smyth County Community Hospital 245 Medical Park Drive Marion VA 24354 540794913 Hospital VA 501c3 Line_3_Hospital_Coop MSHA 0 Takoma Regional Hospital Inc DBA GCH 1420 Tusculum Boulevard Greeneville TN 37745 510603966 Hospital TN 501c3 Line_3_Hospital_Coop WHS 0 Wellmont Hawkins Co Memorial Hosp Inc 851 Locust Street Rogersville TN 37857 621816368 Hospital TN 501c3 Line_3_Hospital_Coop WHS 0 Wellmont Health System 303 Med Tech Parkway Suite 300 Johnson City TN 37604 621636465 Hospital System TN 501c3 Line_3_Hospital_Coop BALLAD HEALTH 0 Wellmont Madison House 2000 Greenway Street Kingsport TN 37660 621308216 Assisted Living TN 501c3 Line_10_Organization WHS 0 Wellmont Medical Associates 303 Med Tech Parkway Ste 220B Kingsport TN 37660 270898372 Medical Services TN 501c3 Line_10_Organization WHS 0 Wellmont Wexford House 2421 N John B Dennis Hwy Kingsport TN 37660 581859039 Nursing Home TN 501c3 Line_10_Organization WHS 0 East Tennessee Ambulatory Surgery Center 701 Med Tech Parkway Suite 100 Johnson City TN 37604 621787537 Medical Services TN N/A 0 0 Emmaus Community Healthcare PLLC 6419 Bristol Hwy Piney Flats TN 37686 200577483 Medical Services TN N/A 0 0 Medical Specialists of JC LLC 2528 Wesley Street Suite 2 Johnson City TN 37601 272199037 Medical Services TN N/A 0 0 Quality Improvement Partners LLC 2528 Wesley Street Suite 2 Johnson City TN 37604 861932106 Healthcare TN N/A 0 0 Ballad Health Development Corporation 400 N State of Franklin Road Johnson City TN 37604 883118592 Investments TN N/A C 0 Ballad Ventures LLC 400 N State of Franklin Road Johnson City TN 37604 844214681 Investments TN N/A C 0 Blue Ridge Medical Management Corp 303 Med Tech Parkway Ste 220B Johnson City TN 37604 621490616 Medical Services TN N/A C 0 Community Home Care Inc 1490 Park Avenue NW Suite B Norton VA 24273 541453810 Durable Medical Equipment VA N/A C 0 Mediserve Medical Equipment 303 Med Tech Parkway Ste 220B Johnson City TN 37604 621212286 Durable Medical Equipment TN N/A C 0 Mountain States Physician Grp 303 Med Tech Parkway Ste 220B Johnson city TN 37604 621700412 Medical Services TN N/A C 0 Mountain States Properties 303 Med Tech Parkway Ste 220B Johnson City TN 37604 621845895 Property Management TN N/A C 0 Nolichuckey Management Svcs Inc 1420 Tusculum Boulevard Greeneville TN 37745 621776681 Medical Services TN N/A C 0 Wellmont Health Services Inc 303 Med Tech Parkway Ste 220B Johnson City TN 37604 621254373 Medical Services TN N/A C 0 Wellmont Insurance Co SPC LTD PO Box 30600 Grand Cayman CJ KY1-1203 981195624 Insurance CJ N/A C 0 Wellmont Physician Services 303 Med Tech Parkway Ste 220B Johnson City TN 37604 621567353 Medical Services TN N/A C 0 Wellmont Inc 303 Med Tech Parkway Ste 220B Johnson City TN 37604 621320035 Medical Services TN N/A C 0 Wilson Pharmacy Inc PO Box 5289 Johnson City TN 37604 620329587 Pharmacy TN N/A C 0 WPS Providers Inc 303 Med Tech Parkway Ste 220B Johnson City TN 37604 205564642 Medical Services TN N/A C 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0